Clifford Chance advises on Kanzhun's US$290 million follow-on share offer

Global law firm Clifford Chance has advised Goldman Sachs and Morgan Stanley, as the overall coordinators on behalf of the several underwriters, on the follow-on share offer and listing by Kanzhun Limited (Kanzhun).

Kanzhun's global issuance of 34.5 million Class A ordinary shares on the Main Board of the Hong Kong Stock Exchange raised approximately HK$2.277 billion (approximately US$290 million).

Chair of China Practice and partner Tim Wang said, "Kanzhun’s follow-on share offer stands out for its complexity, as it is one of the very few by a US registered issuer. With limited precedents to guide the process, our team's deep expertise in complex offerings and US securities laws was instrumental in helping the underwriters navigate the unique challenges involved."

Tim and partners Jean Thio and Virginia Lee co-led the deal team and were supported by counsel Wei Liang, senior associates Yuhang Li and Ryan Ho, associates Yaomin Pan and Joanne Lau, and trainee solicitor Zhongxiao Cong.

Kanzhun Limited operates BOSS Zhipin, a leading online recruitment platform, which pioneered and adopted the "direct recruitment model" in the online recruitment industry.

The follow-on share offer and listing is the first issuance after Kanzhun's dual primary listing by way of introduction in Hong Kong which Clifford Chance previously advised on.